“It’s utterly essential to preserve that to avoid economic and financial catastrophe,” she told CNN. She said it would be “inconceivable” for the United States - “whose currency, the dollar, serves as the world’s reserve currency a country with the deepest most liquid financial markets where Treasuries are the ultimate safe asset” and “with a credit rating the United States has always had” - to default on its obligations. Yellen said the “extraordinary measures” undertaken by the Treasury Department to delay breaching the debt ceiling will help pay the government’s bills until at least early June. In her interview with Bell, Yellen addressed questions on domestic matters such as inflation and the debt ceiling breach in addition to the effectiveness of sanctions against Russia’s economy. Yellen was in Kyiv Monday on an unannounced visit for a series of meetings and engagements, including with Ukrainian President Volodymyr Zelensky, to reaffirm the United States’ support of Ukraine and to announce the recent transfer of $1.25 billion in economic and budgetary assistance. And I know the Fed is committed to continuing the process of bringing it down to more normal levels, and I believe they’ll be successful with it.” But look, inflation still is too high, but generally if you look over the last year, inflation has been coming down. “Obviously there are risks, and the global situation we face is very uncertain,” she said. “I would say, ‘So far, so good,’” said Yellen, a former Fed chair who led the central bank from 2014-2018. Treasury Secretary Janet Yellen said Monday she believes US inflation remains too high but that a soft landing is on the radar.ĭuring an exclusive interview with CNN’s Melissa Bell from Kyiv, Yellen said the Federal Reserve’s efforts to date to bring down inflation while maintaining a strong labor market appear achievable.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |